Q: What is the statue of limitations on a small personal loan?
The original amount on the loan was $450 after interest they are asking for $750 back. I need to know if I can fight this since the loan was took out in 2006. They have come to my house everyday and call multiple times a day and are threatening to garnish my checks until it is paid off. What can I do? I only co signed on the loan but they are only coming after me for the playback now 6 years later.
A:
6 years.
§ 9-3-24. Actions on simple written contracts; exceptions
All actions upon simple contracts in writing shall be brought within six years after the same become due and payable. However, this Code section shall not apply to actions for the breach of contracts for the sale of goods under Article 2 of Title 11 or to negotiable instruments under Article 3 of Title 11.
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